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Countdown to Brexit

As I currently don't live in the UK, I found this an interesting read and cleared up a few questions.

British voters decided to leave the European Union (EU) on June 23, 2016, but the referendum itself did not take Britain out of the bloc. Careless headlines aside, the U.K. is not "post-Brexit": it remains very much a member of the EU, every bit as subject to its trade and immigration rules as it was on June 22, 2016. A lot has changed: the pound fell 16.8% against the dollar from the date of the vote to the end of February 2017, and relationships between London and the EU's 27 other capitals are notably frostier. But actual Brexit comes later, if it comes at all.

The date has been set for 29th March for article 50 to be invoked and to start the 2 year process.

Sterling fell from a three-week high against the dollar on Monday, on the news Prime Minister Theresa May will trigger Britain's divorce proceedings with the European Union on March 29, launching two years of negotiations.

May's government said her permanent envoy to the EU had informed European Council President Donald Tusk of the date when Britain intends to invoke Article 50 of the Lisbon Treaty - the mechanism for starting its departure from the bloc

Here's a reasonably good read on the speech that BOE member Broadbent made this morning in the UK.

He talks about the relationship of the Pound and why it has reacted like it has to the leave vote.

While we don’t know precisely what’s in the collective mind of the foreign exchange market, in my view there are two broad possibilities: Brexit is expected either to weaken domestic demand or raise the cost of exporting.

Whilst digesting the NFP figures and the confirmation of a likely rate hike in June by the FED, I was reading an article on the ever present Brexit talks and the bill looking to be imposed by the EU. Looks like it's going to be a real sticking point.